Rubicon Research IPO: Thane-Based Company Subscribed by 0.3 Times on First Day; Check GMP

The initial public offering (IPO) of Rubicon Research, the Thane-based company, opened for bidding on Thursday, October 9 and was subscribed by 0.3 times on the first day of bidding. The Rs 1377.50 Crore IPO of a pharmaceutical company consists of Rs 500.00 crore fresh issue and Rs 877.50 crore offer for sale. 

The price band is set for Rs  461-Rs 485 per share with a face value with a lot size of 30 shares with a minimum amount of Rs 13,830. Retail investors can apply to the Rubicon Research IPO with a minimum application of a single lot. 

Also Read | LG Electronics IPO Day 3: Check GMP, Subscription Status on Last Day of Bidding.

The tentative listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) is likely on October 16. Rubicon Research IPO offers a total of 1,56,37,349 shares. Out of which 85,06,804 allocated to Qualified Institutional Buyers, 85,06,804 allocated to QIB (Ex-Anchor), 42,54,299 (27.21%) allocated to non-institutional investors, 28,36,200 (18.14%) allocated to retail individual investors. 

Rubicon Research IPO GMP

According to portal tracking grey market premium (GMP), the Rubicon Research IPO listed at Rs 585, which is Rs 100, of the highest price of Rs 485, which is (20.62%) higher than the opening price of the IPO. 

About Rubicon Research

The Thane-based pharmaceutical company Rubicon Research has been providing contract formulation, pharmaceutical companies since 1999. The manufacturing facilities of the company are located in Ambernath. The company expanded its services in 2011 in contract development and manufacturing services for products intended for regulated markets.